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PACcoin (PAC): What on Earth is PAC?

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PAC
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PAC has been around for some time now, but it seems that everyone is wondering: what on earth is PAC? There is only a few information about what PACcoin is, but one is for sure – this coin is at its cornerstone already starting to trade at 0.0000$. Seems like a cost-effective chance for investing? It might be. Let’s see what we can find.

What We Know About PAC

PACcoin is said to be an alternative currency – whatever that means – but no one can tell for sure what the main idea behind this token is. Some tokens can brag about supporting communication, the entertainment industry, gambling, science or pose as unique platforms that enable easy and simple commerce, PACcoin is simply an alternative. An alternative to what? For other coins possibly. But, this coin has a long way to go before it can be even considered as a source of serious and successful investments.

This token was first launched almost five years ago, in 2013. The coin was launched and developed by William Corliss, and back in that time, PACcoin was known as Pacific Nation the Kingdom of God PACcoin – talking about a dramatic entrance!  Once the token was re-launched and rebranded it had nothing to do with the “Kingdom of God or Pacific Nation,” but PAC stood as an abbreviation for People’s Alternative Choice Coin. Again, we have that “alternative” in its name. But, alternative for what?

That remains unclear.

However, PACcoin developers have decided to create another project, called Redemption, obviously in terms of redeeming for a pretty undeveloped coin, as basically that is how the public sees PAC.

The rest of potential investors see it simply as a new cheap investment and a new opportunity to potentially earn some cash. 7

The Redemption was scheduled for February 1st, and the re-launching is announced on March 1st.

What is going on With PAC at This Moment?

PACcoins started to trade at 0.0000$ as of only a couple of days ago. Later on, the coin gained some on its price with a couple of increases that helped the price jump from non-existent to existent. After the latest decrease that made the price drop for over –9%. This decrease led to the current price of 0.000031$, which is still better than having the coin traded at 0$.

For now, it remains uncertain what will happen with PACcoin and how well this coin will perform after being re-launched three weeks from now. For now, we strongly advise to give this token a thought and consider investing – the price is still too low, so even if the coin drops again, you won’t be losing much money.

Just remember that big coins can drop as well as “small” coins. As far as the idea behind PAC concerned, it looks like we will have to wait for March and see what we’ll be dealing with.

We will be updating our subscribers as soon as we know more. For the latest updates on DGD, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Blogs

Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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Blogs

TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Ripple
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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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